FBI Reward Offered for Former Arizona DPS Officer Charged with Fraud

The FBI said Tuesday its increasing efforts to locate a former Arizona Department of Public Safety officer who skipped bail after being charged in a $9 million fraud scheme.

The agency said in a press release that information leading to Frederick Arias’ arrest and conviction could garner a reward of up to $25,000.

Arias, 54, is on the FBI’s most-wanted list for white collar crimes.

The FBI said Arias bilked Arizona investors out of millions of dollars between December 2015 and October 2017. He reportedly told investors that “The Joseph Project” would offer them safe, secure and guaranteed profits.

Arias allegedly wired some of the funds overseas, and he has ties to Canada, Norway, Australia, the Czech Republic and the Dominican Republic, the FBI said.

He was charged in an Arizona Superior Court on multiple counts — including conspiracy, money laundering, forgery and theft — in June 2019 and arrested in Kirkland, Washington.

He was released on bond but failed to appear for his extradition hearing, the FBI said, so a warrant for his arrest was issued.

In March 2020, he was charged in a U.S. District Court in Phoenix with unlawful flight to avoid prosecution, the FBI said.

Officials say Arias worked for the department from September, 1987 – June, 2008 as a patrol officer and in both Maricopa County and Pinal County as a detective.

Arias is said to be about 5 feet, 9 inches tall, just over 200 pounds, and speaks both Spanish and English.

Anybody with information about the case was asked to call the FBI’s Phoenix office at 623-466-1999 at or their nearest FBI office, American embassy or consulate.

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